Intercept Music, Wholly Owned Subsidiary of Sanwire Corporation, Adds Online Retail Commerce to Accelerate and Expand Revenue Streams
LOS ANGELES, May 28, 2020 /PRNewswire/ -- Intercept Music, Inc. ("Intercept"), wholly owned subsidiary of Sanwire Corporation, ("Sanwire" or "the Company") (OTC: SNWR) has added customized online retail stores to the independent artists and bands enrolled in its Intercept Plus enhanced services program. Each artist can opt for a turnkey, customized storefront stocked with branded merchandise, with Intercept gaining a share of gross revenue.
Now, Intercept's cohort of artists within the Intercept Plus program gain a powerful way to immediately monetize their music beyond performances and music sales. Intercept Plus is an enhanced service-level offering extended by invitation only to select artists and bands, on a revenue-sharing model. By offering their fans top-quality merchandise including apparel such as T-shirts, hats and hoodies through the Intercept-created stores, independent artists significantly expand their revenue potential among their fan bases. Intercept handles all order production, processing and fulfillment, streamlining the process for artists and eliminating customer service and inventory issues.
The introduction of retail services bolsters Intercept's revenue streams beyond monthly subscription income from its core suite of online music marketing, promotion and distribution. Retail prices on promotional merchandise sold in the artists' custom stores are at or below market level, and provide sufficient margin for both artists and Intercept to realize revenue opportunity. Additionally, Intercept artists and bands are incentivized to promote ongoing sales through their own branded stores, extending sales opportunities on behalf of Intercept.
Each customized band storefront operates on the engine used by shop.interceptmusic.com. The rollout of artist stores will take place in several phases of five bands each, with the first phase launching today.
"Our music industry experience has made it clear that merchandise sales are a crucial component of independent artists' overall revenue and business model," said Tod Turner, president of Intercept. "We are making good on our promise to provide a complete suite of services designed to help the indie artist succeed. These plug-and-play retail stores are as important to the artist community as they are for us."
About Intercept Music, Inc.
Intercept Music, Inc. is an entertainment technology company dedicated to helping independent artists effectively distribute, market, and monetize their music. Sold through a Software as a Service (Saas) model, Intercept's online platform delivers an unsurpassed combination of marketing, promotion, and distribution to hundreds of stores worldwide and every major streaming service, including Apple Music, Google Music, Pandora and Spotify. Intercept's options include full-service, concierge-style support and even one-on-one coaching from award-winning music industry professionals. Intercept focuses exclusively on the independent music market, which is estimated at 12 million artists, and is the fastest-growing sector of the music industry. For more information, visit interceptmusic.com.
About Sanwire Corporation
Sanwire Corporation (OTC: SNWR), a diversified company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for a number of years. We look for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. Our current focus is advanced entertainment technologies. For more information, visit sanwirecorporation.com.
Safe Harbor Statement: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934, as amended. All statements regarding our expected future financial positions, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the OTC Markets, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
For further inquiries, contact:
ir@sanwirecorporation.com, casper.casparian@interceptmusic.com
+1(424) 835-0833
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SOURCE Sanwire Corporation
